David P. Heintzman, a director at Stock Yards Bancorp, Inc. (NASDAQ:SYBT), has reported selling shares of the company's common stock. According to a recent SEC filing, Heintzman sold a total of 10,000 shares over two transactions. The sales occurred on October 25 and October 28, with share prices ranging from $65.98 to $66.05, amounting to a total value of $659,963.
Following these transactions, Heintzman holds a total of 97,070 shares indirectly through a Family Gift Trust. Additionally, he maintains direct ownership of 29,786 shares and holds Stock Appreciation Rights for 12,883 and 13,273 shares, respectively, with exercise prices of $35.90 and $40.00.
In other recent news, financial services firms Piper Sandler and Stephens have revised their stock price targets for SY Bancorp, following the company's strong third-quarter performance. Piper Sandler raised its target from $65.50 to $69.00, maintaining a Neutral rating on the stock. Stephens, on the other hand, increased its target to $70 from $60, keeping its Overweight rating on the stock. Both firms cited SY Bancorp's potential for superior operating leverage in the upcoming year, driven by anticipated net interest margin expansion and further organic balance sheet growth.
Piper Sandler also adjusted its earnings per share estimates for SY Bancorp for the fourth quarter of 2024 and full-year 2025, reflecting expectations of higher net interest income. Additionally, SY Bancorp's recent increase in its quarterly cash dividend to $0.31 per share was cited as a demonstration of its commitment to shareholder value.
These recent developments highlight SY Bancorp's ongoing activities, with a focus on profitability, revenue diversity, and shareholder value. It is important to note that these are analyst prognostications and not a guarantee of future performance.
InvestingPro Insights
While David P. Heintzman's recent stock sale might raise eyebrows, it's essential to consider Stock Yards Bancorp's overall financial health and market performance. According to InvestingPro data, SYBT boasts a market capitalization of $1.96 billion and a P/E ratio of 18.26, suggesting a reasonable valuation relative to earnings.
The company's financial strength is further underscored by its dividend history. An InvestingPro Tip reveals that Stock Yards Bancorp has raised its dividend for 14 consecutive years, demonstrating a commitment to shareholder returns. This is particularly noteworthy given the company's impressive 77.4% one-year price total return.
Another InvestingPro Tip highlights that SYBT is trading near its 52-week high, with the current price at 99.58% of its peak. This aligns with the stock's strong performance, including a substantial 48.87% price total return over the past six months.
For investors seeking a more comprehensive analysis, InvestingPro offers 8 additional tips that could provide valuable insights into Stock Yards Bancorp's investment potential.
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